The COVID-19 pandemic has left many people searching for at home healthcare options. Dublin-based startup LetsGetChecked has provided many with remote testing and treatment options, and now the company has recently announced a successful $150 million Series D funding round that resulted in a valuation of $1 billion.
LetsGetChecked plans to use its new funds to expand its remote testing services. Currently the company offers over 100 at home tests including sexual health, cholesterol, diabetes, thyroid, and COVID-19 tests. Customers also have access to limited prescriptions and telehealth services.
LetsGetChecked plans to launch care pathways for patients looking for remote care for chronic illnesses and conditions and patients will have access to medical professionals, pharmacy services, and diagnostic kits. Chats and videos will also be available for real-time help through the company's app and web-enabled interface. LetsGetChecked also plans on increasing its pharmaceutical capabilities by acquiring a pharmacy in Jupiter, Florida.
Founder and Chief Executive Officer Peter Foley said, “We are seeing unprecedented demand for at-home diagnostics and care as an alternative to traditional in-person medical visits, and we are expanding our offerings to include telehealth and treatment services to further help people live longer, happier lives.”
This funding round was led by Casdin Capital and joined by previous investors CommonFund Capital, Illumina Ventures, Optum Ventures, Transformation Capital, HLM Venture Partners, Qiming Venture Partners USA, and professional golfer Rory Mcllroy through Symphony Ventures, an investment partnership.
In the last year, the company has seen its revenue grow by more than 1,500%. It has also gained the business of health plans, employers, and government organizations and has delivered over 2 million tests and served over 300 corporate customers since 2015.
Remote diagnostics and health care services have been put in the spotlight over the last year. Although the coronavirus is not the company's main focus, it has provided the company with a valuable catalyst. Foley claims that the pandemic has boosted the healthcare industry forward by 10 years.
The focal points of the company including telehealth services, pharmacy, and remote diagnostics continue to support patients managing their healthcare journeys. This Series D funding round will help LetsGetChecked provide patients with the tools they need to stay healthy.